Press Release: IMF Executive Board Initiates Selection Process for Next Managing Director
IMF News, January 20, 2016
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Bibliographic details
- Published: January 20, 2016
Statement and timeline
- Dean of the Executive Board: Mr. Aleksei Mozhin.
- Announcement date: January 20, 2016.
- Appointment of current Managing Director Christine Lagarde expires on July 5, 2016.
- The Board intends to complete the selection process by early March.
- Objective to complete the selection process by March 3, 2016.
Candidate profile (requirements and expectations)
- The successful candidate will have:
- A distinguished record in economic policymaking at senior levels.
- An outstanding professional background.
- Demonstrated managerial and diplomatic skills needed to lead a global institution.
- Nationality of any of the Fund’s members.
- Capability, as chief of the Fund’s staff and as Chairman of the Executive Board, of providing strategic vision for the work of a high quality, diverse, and dedicated staff.
- Firm commitment to advancing the goals of the Fund by building consensus on key policy and institutional issues, including through close collaboration with the Executive Board.
- A proven understanding of the Fund and the policy challenges facing the Fund’s diverse global membership.
- A firm commitment to, and an appreciation of, multilateral cooperation.
- Demonstrated capacity to be objective and impartial.
- Effective communication skills.
Nomination period and procedures
- Nomination eligibility:
- An individual may be nominated by a Fund Governor or an Executive Director.
- Nomination period:
- Commences on January 21, 2016 at 12:01 a.m., Washington, D.C. time.
- Closes on February 10, 2016 at 11:59 p.m., Washington, D.C. time.
- Nomination handling:
- All nominations shall be communicated to the Fund’s Secretary.
- The Secretary shall obtain confirmation from each nominee of his or her willingness to be considered as a candidate.
- The Fund’s Secretary shall hold the names of the nominees in confidence until the end of the nomination period.
Shortlisting and selection mechanics
- Post-nomination disclosure:
- At the end of the nomination period, the Secretary shall disclose to the Executive Board the names of those nominees who have confirmed their desire to be candidates.
- Shortlisting rules:
- If the number of candidates exceeds three, the Executive Board will keep the names of these nominees in confidence until it has drawn up a shortlist of three candidates.
- Shortlisting will take into account the candidate profile without geographical preferences.
- The shortlisting process will be implemented through indications of which candidates receive the most support among Directors, taking into account the Fund’s weighted voting system.
- Objective of completing the shortlisting process within seven days following the disclosure to the Board of the candidates.
- Although the Executive Board may adopt a shortlist by a majority of the votes cast, the objective is to adopt a shortlist by consensus.
- The shortlist shall be published by the Fund.
- Meetings and final selection:
- The Executive Board will meet with the shortlisted candidates (or all of the candidates if there were fewer than four) in Washington, D.C.
- Thereafter, the Executive Board will meet to discuss the strengths of the candidates and make a selection.
- Although the Executive Board may select a Managing Director by a majority of the votes cast, the objective is to select the Managing Director by consensus.
- Objective of completing the selection process by March 3, 2016.
Additional notes
- The process is described as open, merit-based, and transparent, similar to the one used in the previous round.
- Individuals may be nominated by a Fund Governor or Executive Director.
- The Board aims to reach a decision by consensus.
Press Release No. 16/19 — January 20, 2016 — IMF COMMUNICATIONS DEPARTMENT